SBI CEO: Japan's 2028 crypto ETF timeline is too slow

Asakura Tomoya, CEO of Japanese financial giant SBI Global Asset Management, has criticized the country's reported 2028 timeline for approving cryptocurrency spot ETFs and implementing new tax reforms, calling the plan "too late." His comments on X followed a Nikkei Shimbun report that Japan's Financial Services Agency (FSA) is expected to permit trading of spot crypto ETFs, including for Bitcoin, by 2028. Asakura argued that the response is too slow to keep up with global trends and that Japan risks falling behind the U.S., China, and other Asian competitors in crypto adoption. He urged the government to approve spot crypto ETF trading as soon as possible.